Michigan Tech College of Business Newsblog

It’s Okay to Be Undecided

Published September 9, 2019

by Emma Melchiori

As a huge pack of new Huskies joins the Michigan Tech family this fall, I am finding myself reflecting on the beginning of my journey at Michigan Tech, and particularly, the uncertainty I felt surrounding my major. It did not take me long to realize that engineering was not for me, and I was worried that it was not a good thing to feel this way.

If any new Huskies are reading this, I am here to tell you: it is okay to not feel settled in the major that you chose when deciding to come to MTU. If you feel like you made the wrong decision, do not panic. There is more than enough time for you to switch your major and make any changes necessary to ensure that you will get the right education for what you WANT to do!

Two students eating — That’s me, on the right, just beginning my journey in business last year

When applying to Michigan Tech, I applied into environmental engineering and shortly before classes started in the fall, I switched my major to engineering management because after finishing out my senior year of high school, I knew I wanted to do business as part of my career. After my first week of classes, I figured out that engineering was just not something that I was interested in. This is when I discovered the general business pathway within the School of Business and Economics. Although you cannot graduate with the major of general business, it has helped me to immerse myself in all sorts of different business classes to find out exactly which business path I want to travel down. It’s the perfect placeholder for a major if you know you want to end up in some field of business, but you aren’t sure exactly which one yet.

And remember, it is okay to be unsure!

Through general business, I have taken different business courses already and there are many more to come, of course, as I am a sophomore here now. So far, I have taken a liking to accounting, and am planning to declare my major in accounting soon. Other courses that I have enjoyed surround topics like economics and marketing. Some of these business courses can fill elective slots as well, so if you are simply curious as to what a business course might have to offer but do not want to declare a major in the School of Business and Economics just yet, why not take a business course and see what it is all about? It certainly can’t hurt! Maybe it could lead to a minor in business?

The thing that really sparked my excitement for accounting was the internship this past summer with an environmental engineering firm in my hometown of Marquette, Michigan. I was an accounting intern at a company called TriMedia Environmental and Engineering Services. It was a great learning experience for me, and I was able to do hands-on projects and tasks, which gave me a preview of what an entry-level job in accounting might look like. For these reasons, I urge anyone who wants real-world learning and a view into what a career in their field might look like to seek out an internship. For me, this experience sold me on accounting and helped me to envision what I want my future to look like.

If you are thinking of changing your major, my best advice to you would be to do the necessary exploring to find out what you love to do and chase that. I would rather be pursuing a major that I love than pursuing something that I will be kind of happy with. It might feel scary to abandon a major that you have declared for yourself, but from personal experience, I am much happier now that I have found accounting, and I believe you can find the perfect major for yourself, too!

Discover the business major that’s right for you. Take our online business major assessment now.

Introducing the Husky Investment Tournament for High Schools

Published August 23, 2019

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Student stands at Nasdaq The School of Business and Economics at Michigan Technological University announces the Husky Investment Tournament, an exciting and engaging semester-long outreach initiative designed for high school business classrooms. Students in grades nine through twelve will see business come to life through the principles of the stock market–with the opportunity to win prize money and college scholarships!

“The purpose of the Husky Investment Tournament is to offer more students more pathways to discover business opportunities at Michigan Tech,” says Dean Johnson, dean of the School of Business and Economics and founder of the Tournament.

How it works: Teams comprised of 3-4 student members will receive $1,000,000 in virtual US dollars will build a portfolio. At the conclusion of the competition, the team with the top-performing portfolio will be invited to campus to pitch to a panel of current Michigan Tech students and experts. The winning team will also receive $1,000 in prize money and all student-team members who actively participate will be awarded scholarships to attend Michigan Tech.

Most importantly, students will learn about the world of investing and business in a hands-on and dynamic way.

“We envision the Husky Investment Tournament to be embedded into an economics or business or personal finance class. Teachers should plan to discuss personal finance, investing, and the Husky Investment Tournament with students. The School of Business and Economics will provide faculty support and resources,” Johnson says.

Students gather around computer

Registration closes September 23 and the competition begins October 1, running until December 1. Interested educators or administrators may inquire for more details by emailing business@mtu.edu.

Milligan and Wall are 2019-20 Ten Haken Faculty Fellows

Published August 20, 2019

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Exterior of Academic Office Building

The School of Business and Economics (SBE) at Michigan Technological University announces the appointments of Sheila Milligan, senior lecturer in accounting, as the Richard and Joyce Ten Haken Faculty Fellow in Accounting/Finance, and Jeff Wall, assistant professor of management information systems (MIS), as the Richard and Joyce Ten Haken Faculty Fellow in Business.

Photo of senior lecturer Sheila Milligan — Senior lecturer Sheila Milligan (center)

Dean Johnson, dean of SBE, says the fellowships shine a light on the important work Milligan and Wall do in the classroom and beyond: “Our faculty stand a part for being large enough to lead and small enough to care. They know our students’ strengths and goals, and they play integral roles in guiding them with hands-on learning and mentoring.”

Milligan, a 17-year veteran at the University, says that Richard and Joyce’s giving inspire her every day. “I want to be my best for our hardworking students, who are very conscientious about their education,” she says.

Photo of professor Jeff Wall with student — Jeff Wall (left). assistant professor of management information systems (MIS)

Fellowship funds will be used for student travel, experiential education, student scholarships and to provide teaching assistant positions and professional development for faculty. “Attending conferences in forensic accounting is critical to keeping my teaching agile and relevant to prepare students,” Milligan says.

Wall intends to direct his fellowship funds toward undergraduate scholarships for students dual majoring in accounting or finance and MIS. “Using the funds–more than $8,000 in total–in this way can help support Michigan Tech’s enrollment goals for business students,” Wall says of the new initiative directed at growing the School of Business and Economics.

Trends in industry are placing a greater emphasis on the intersection of accounting and finance with MIS. Wall anticipates seeing top-quality, interdisciplinary students through these scholarships.

The Ten Haken Faculty Fellowship positions were created in 2017 to attract and retain high-quality business faculty and to inspire teaching and research activity amongst business faculty. Both accounting majors with bachelor’s degrees in business administration, Richard and Joyce Ten Haken are pillars of support for SBE’s students and faculty.

Tech’s MIS Students Benefit from Corporate Partnership

Published August 1, 2019

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Students in a management information systems (MIS) course at Michigan Technological University are seeing the benefits of a partnership with the provider of the largest cloud platform for developing integrated, custom business applications. Students in Russ Louks’ MIS 4100 capstone course have developed applications using the Quick Base low-code/no-code platform.

Louks, management information systems professor of practice in Michigan Tech’s School of Business and Economics, said “One of the challenges we face in providing experiential learning opportunities for MIS students, is ensuring the tools and projects offered are in line with the learning curve.”

He said MIS intersects business and technology with graduates developing into “IT Swiss Army Knives.”

Relying on nearly three decades at Ford Motor company, Louks maintains a network of professionals eager to support his business students. One of those connections, Tech alumnus Evan Rice ’06, senior director of IT operations, information and analysis services for CCI Systems, an Iron Mountain-based communications solutions provider.

Rice, who is also a member of Michigan Tech’s MIS advisory board, was instrumental in implementing a new classroom technology tool that is rapidly becoming a model for educational settings across the country.

“Evan suggested low-code/no-code as a concept our students should learn,” Louks said. CCI employs Quick Base in their professional work and offered to sponsor the licensing of the emerging technology for capstone students.

CCI Systems Business Analyst and Application Development Manager Janet Plumley, led the student project for the past two years. She said, “In traditional settings, students would start by writing code, which can lead to frustration and inefficiencies.” MIS students use a data-model first approach; it’s an easier development environment.”

Louks added “Students enjoy the experience of going from nothing to having a finished product in one semester and a possible career path using the skills they have developed in the program.”

Plumley, who serves on the Builder Advisory Board for Quick Base, has another Husky connection; her son, David, is a current student.

The collaboration was so successful after the first year that CCI Systems expanded the program to include multiple student teams with Tech’s MIS faculty and Quick Base’s Builder Program, that provides no-cost builder accounts for learning purposes. Additionally, CCI adopted the application students developed in class and hired Tom Strome, a Houghton native and ’19 MIS grad.

Plumley said this real-world knowledge of up-and-coming technologies in their toolkit makes Michigan Tech MIS students even more valuable, whether they pursue IT or another high-tech field like finance. “It empowers them to solve their process improvement challenges.”

She added that because these students have a sound knowledge base, they catch on to new challenges quickly. “They aren’t doing theory — they are doing real work that can positively impact a real company.”

“The applications the students presented at the end of the semester were amazing in how closely they mapped to the requirements provided to them by CCI and Michigan Tech,” said Mark Levitt, Quick Base builder program team member. “These students are very well prepared to solve business problems that they encounter in the workplace.”

What began as an industry partnership between CCI Systems leaders and MIS faculty has now evolved into a great lesson about the value of this kind of partnership between universities, commercial organizations and service providers dedicated to helping to equip students with the tool and training they will need in the workplace.

Management information systems at Michigan Tech continues to provide Huskies with a broad background in modern technologies to solve business problems so employers will continue to value hiring its graduates.

Michigan Tech Mourns Loss of Stanford N. Phelps

Published June 20, 2019

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Amanda and Stan pose with a dinosaur at National History Museum — Stanford N. Phelps (right), late chair of S.N. Phelps & Co., with Michigan Tech alumna Amanda (Vogt) Conner ’10 (middle), vice president of S.N. Phelps & Co.

Stanford “Stan” Phelps, chair of S.N. Phelps & Co., passed away June 6, 2019, at age 84. A graduate of the Phillips Exeter Academy, Yale, and Harvard, Mr. Phelps was a pioneer of the Wall Street junk bond market and was known to Michigan Tech as a supporter of the Applied Portfolio Management Program (APMP) and its students. He hired School of Business and Economics interns and graduates who went on to thrive in the financial industry, including Amanda (Vogt) Conner ’10, Vice President of S.N. Phelps & Co. She says of Stan: “He was my boss, mentor, and friend. Stan helped develop my investment skillset and shape my career, while also teaching me the importance of philanthropy. I am forever grateful for the nine years I was able to learn from him.”

Dean Johnson, dean of the School of Business and Economics, adds, “Stan lived a principled life and sought to pass these principles on to future generations. His impact on the careers of many APMP students is just one of his many legacies. We were pleased that this year’s APMP team was able to meet with Stan and Betsy this past spring in Greenwich. Our heartfelt condolences are with Betsy and the entire family.”

Stan Phelps’ obituary, which appeared in The New York Times and Greenwich Time, is below:

Stanford Newton Phelps died peacefully at home in Greenwich, Connecticut on June 6, 2019, at age 84. He is survived by his beloved wife, Elizabeth Richmond Phelps; his son, George; his daughter, Catherine, and son-in-law, Daniel McNamara; his grandchildren, Maxwell, Garrett, and Ford; his brother, Barry Phelps; his sister Jeanette, and brother-in-law, Whitney Evans.

Mr. Phelps was chairman of the board of S.N. Phelps & Co., Commonwealth Oil Refining Company (CORCO) and Clear Springs Land Company, home of Clear Springs blueberries. His earlier career in the bond business included stints with Citibank, F. S. Smithers and Drexel Burnham Lambert where he started their high-yield bond department. He served as the second lieutenant in the United States Army from October 1956 to April 1957.

Mr. Phelps was born in Rochester, New York, the son of Jeanette Coon and Stanford Newton Phelps. The family moved to Detroit and later back to Rochester when Mr. Phelps left to attend Phillips Exeter Academy in 1948. He graduated from Phillips Exeter Academy in 1952, and subsequently from Yale University in 1956 and Harvard Business School in 1960.

Mr. Phelps was devoted to his church, First Presbyterian Church of Greenwich in Greenwich, Connecticut. Mr. Phelps was a generous supporter of his church and many educational and Christian organizations, including Hartwick College from which he received an honorary Doctor of Laws, Harvard Business School, Keck Graduate Institute where he was on the Board and received a Doctorate of Applied Life Sciences, honoris causa, The Madeira School, Navy Seal Foundation, Polk State College, and Yale Peabody Museum where he served on the Peabody Leadership Council. Throughout his life, however, his highest charitable priority remained his high school alma mater, Exeter.

In Mr. Phelps, Exeter lost one of its most loyal and enthusiastic supporters. The breadth of his commitments grew from a heartfelt devotion to education, his desire to improve opportunities for Exeter students and his deep respect for Exeter’s faculty. He was most proud of his Phelps Scholar-Athlete program through which he provided one hundred seven students with scholarships to attend Exeter. Through his philanthropy, Mr. Phelps sought to inspire others to support the school he loved. In an address to the student body in 2001, he put it this way, “You will be remembered for what you give – not for what you get”.

In all aspects of his life, Mr. Phelps was guided by two principles he learned while a student of Greek and Latin at Exeter: Athanatos esti psyche, “The soul is immortal,” and Nil sine Deo, “Nothing without God.” All those who knew Mr. Phelps will remember him and take comfort in these two phrases. He will be deeply missed by his family, his friends and by the school he loved.

A service in celebration of the life of Stanford Newton Phelps will be held at 11:00 a.m. on Wednesday, June 26, 2019, at First Presbyterian Church of Greenwich, One West Putnam Avenue, Greenwich, Connecticut 06830.

In lieu of flowers, contributions can be directed to the First Presbyterian Church of Greenwich (pcg.org).